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Stocks to Watch: Guess, Qualcomm, Fifth Third

A quick rundown on hot stocks to watch this morning, courtesy of our friends at Dow Jones.

Among the companies whose shares are expected to actively trade in Thursday’s session are Guess Inc., Pegasystems Inc. and General Maritime Corp.

Guess’s fiscal fourth-quarter earnings rose 19% on continued strength overseas, but the apparel maker’s comparable sales at its larger U.S. retail business declined, and it gave a weak outlook for earnings this year and for the current quarter’s results. Shares were down 5.5% at $41.45 after hours.

Pegasystems’s swung to a fourth-quarter loss on charges and unrecognized sales that contributed to lower-than-expected revenue. Shares in the software company fell 9% to $29.92in after-hours trading as the results came in far below Wall Street estimates.

General Maritime’s shares tumbled 19% to $2.02 after hours as the company said it would be unable to provide its fourth-quarter results within the time required. General Maritime is in ongoing discussions with prospective lenders and investors as it explores the possibility of restructuring or refinancing its existing credit facilities.

The Federal Agriculture Mortgage Corp.’s fourth-quarter profit more than doubled, as the entity known as Farmer Mac benefited from a derivatives gain, while core earnings improved from a year ago. Shares jumped 8.3%, to $19 in after-hours trading.

ON Semiconductor Corp. said disruptions to infrastructure services due to an earthquake and its aftermath in Japan would result in the temporary shutdown of two of the chip maker’s production facilities in the Asian nation, which could weigh on first-quarter revenue. Shares slid 1.7% to $9.41 after hours.

Clarcor Inc.’s fiscal first-quarter profit jumped 47%, topping analysts’ expectations and reaching a record high for the quarter, as each segment posted a double-digit increase in sales. The company said it expects higher commodity prices will increase costs, although it expects the company can pass most of that increase to its customers. Shares rose 1.5% to $42.98 in after-hours trading.

Herman Miller Inc.’s fiscal third-quarter profit more than doubled on higher demand and a heavy backlog that helped boost revenue during the typically weak selling season. Chief Executive Brian Walker said higher sales and orders in the latest quarter reflected “a continuation of the business recovery that began last spring,” though he added that the recent earthquake near Japan and rising worldwide commodity costs are causes for concern. Shares rose 1.5% to $25.58 after hours.

Ashland Inc. said Chairman and Chief Executive James J. O’Brien will have surgery to repair a hole in his colon caused by a type of swelling. Later Wednesday, the company announced its board has authorized $400 million in stock buybacks and plans to increase the chemical maker’s annual dividend 16%.

Fifth Third Bancorp said it agreed to pay $280 million to repurchase warrants issued to the U.S. government that would have allowed it to purchase more than 43.6 million shares. As a result of the agreement, the Cincinnati-based regional lender said the U.S. government no longer holds any securities of the company under the program.

Harris Corp. provided higher-than-expected estimates for its next fiscal year, saying recent acquisitions and core-business expansions make it well positioned for growth in the months ahead.

Qualcomm Inc., one of the world’s biggest semiconductor makers, said it foresees no significant effects on its ability to deliver products because of a devastating earthquake and tsunami in Japan.

RenaissanceRe Holdings Ltd. expected roughly $220 million in losses from flooding in Australia and a New Zealand earthquake and said the negative effects of the recent disasters in Japan would be “significant” and “material” on results.

Standard & Poor’s Ratings Services increased the likelihood of an upgrade for Florida-focused utility Teco Energy Inc. because of customer growth and the region’s outlook.